VIP and premium mass segments remained subdued
Bloomberry Resorts, the operator behind the Solaire casino brand in the Philippines, generated Gross Gaming Revenue (GGR) of P14.7bn, falling by 13 per cent from the first quarter of 2025 with the VIP and premium mass segments remaining subdued.
The operator, whose subsidiaries own and operate Solaire Resort Entertainment City (SEC), Solaire Resort North (SN), Jeju Sun Hotel & Casino (Jeju Sun), as well as the Solaire Online and FUNaloMax online gaming platforms, said its flagship casino SEC saw a drop of 18 per cent to P10bn, with GGR negatively impacted by lower volumes across all gaming segments. Solaire North generated GGR of P4.7bn, reflecting a one per cent increase from the same period last year
Enrique K. Razon Jr., Bloomberry Chairman and CEO, commented, “The first three months of 2026 reflected continued softness in the VIP and Premium Mass segments, particularly in Entertainment City. We reported a net loss of P125 million, which was meaningfully lower than quarterly losses reported in the previous three periods.”
“For the quarter, we continued to reap benefits from our previous debt refinancing activities which yielded P358m in interest expense savings. Meanwhile in South Korea, we exited the casino business in March after substantially completing a demerger and share purchase agreement with a South Korean buyer. We realized a P403m gain through this transaction that softened our losses for the quarter.”
“It is encouraging to see a sequential reduction and only a marginal year-over-year increase in operating expenses as our cost discipline initiatives begin to take effect. We recognize that the evolving geopolitical situation in the Middle East is contributing to rising cost pressures across the operating environment; in response, we will intensify our cost cutting efforts to manage through the volatility.”
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VIP and premium mass segments remained subdued Bloomberry Resorts, the operator behind the Solaire casino brand in the Philippines, generated Gross Gaming Revenue (GGR) of P14.7bn, falling by 13 per cent from the first quarter of 2025 with the VIP and premium mass segments remaining subdued. The operator, whose subsidiaries own and operate Solaire Resort…
The post Solaire Resort Entertainment City sees GGR fall across every segment appeared first on G3 Newswire.